Four Reasons to Leave Your Credit Cards at Home

Many of us dream of the day when we’ll finally achieve financial stability. As you begin your financial journey, keep this rule in mind: don’t spend more than what you make.

Sounds easy as pie, right?

Unfortunately, one thing can majorly drag down your progress: Debt. Shopping with credit cards has become as much of an American pastime as eating apple pie, and just like a sweet tooth, it is one bad habit many of us would benefit from losing!

Here are four reasons why you should slow down or stop using your credit cards TODAY:

• Live Beneath Your Means: Resist the urge to splurge! Cut out unnecessary spending. Focus on earning. It’s easy to use a credit card to pay for something you cannot afford to pay off at month’s end. Don’t let credit card spending wreak havoc on your budget.
• Drawback of Debt: Credit card purchases gather interest. This means that you end up paying more in the long run!
• Free Your Funds: If you reduce your spending and pay down your credit card debt, you’ll have more money each month to put toward your savings and emergency funds. You won’t make much progress if you keep incurring debt.
• Free Yourself: If you stop spending on credit, you’ll no longer have the obligation to due dates and growing interest. Imagine the sigh of relief that comes when you finally cut out one or more monthly bills.

If you’re worried you’ll relapse with your cards, consider leaving the house with only limited amounts of cash, and delete your saved information from online vendors.

While you may not go as far as freezing your card in a block of ice (although some people do it and it works!), you should commit to putting your credit card spending on freeze until your balance reaches $0. To learn more about how to improve your financial life, visit Syncis at http://www.syncis.com/blog/.